Thursday, March 7, 2013

Pension: Enhancement of EPF pension

Enhancement of EPF pension

GOVERNMENT OF INDIA
MINISTRY OF  LABOUR AND EMPLOYMENT
RAJYA SABHA
UNSTARRED QUESTION NO-401
ANSWERED ON-27.02.2013


Enhancement of EPF pension

401 .    SHRI SYED AZEEZ PASHA


(a)whether there is a proposal to provide fixed minimum pension to all the employees who are covered under Employees” Provident Fund Organisation (EPFO);

(b)if so, the details thereof alongwith the minimum amount Government is planning to give to the pensioners;

(c)whether Government has decided to revise the existing scheme in view of demand of workers for a reasonable hike in their EPF pension;

(d)if so, by when the enhanced pension is likely to be disbursed; and

(e)the number of employees who are getting pension benefits from EPFO at present?

ANSWER
(SHRI KODIKUNNIL SURESH)

(a) to (d):     A proposal to enhance minimum pension to Rs.1,000/- per month under Employees’ Pension Scheme, 1995 is under consideration of the Government. However, no time frame for implementation of the proposal can be given.

(e):     At present, 41 lakh pensioners are getting pension benefits from EPFO.

source- Rajya sabha

7 comments:

"INBA THEYNE VANDHU PAAYUDHU KAATHINILAY"*as soon i saw the proposal of enhancing the EPS1995 pension to Rs.1000.

*It means "happy honey flows into my ear"

central govt can not sleep over EPF pension for years together how long they want to take to take a decision perhaps they are waiting for the election year

TO insist for time frame and speedy dispersal of the enhanced EPS 1995 pension to Rs.1000 what we have to do?We are all senior citizen withering out all our energies and just believe their utterances And pray the Almighty only!

Dhananjay B. Londhe
The figures of monthly collection of contribution, the amount confiscated by Govt. due to demise of the employees and their spouse, and the amount disbursed every month by way of pension, need to be published through RTI. There is every possibility that under the garb of welfare activity the Govt. is making huge profits. We must give an ultimatum to Govt. to either increase EPF pension taking into consideration the hike in the DA for last 17 years or decrease all the other pensions including pension to the MPs to the level of 1995. Both options are acceptable to us. If this Govt. wants to survive one of the options should be implemented.

is there any justice in our society.v epf pensioners are expected to pull our lives with an monthly pension amount of Rs.1685 p.m. and v feel surprise on government attitude of raising minimum epf pension from 500 to 1000 p.m.Their dogs too can not live on this amount.

Employees in service covered under this scheme, should know their fate after retirement and join hands with the agitating pensioners. If the Govt. does not act before coming elections nobody will pay attention till next elections. We have to demand that if the Govt. is unable to set up a system to link the pension with Dearness Index, stop this foolish scheme and refund the contributions. There are millions of pensioners (Ex-Govt. employees and MPs) who are paying huge income-tax on their pension. There should be an upper limit (say Rs.15,000) for any pension irrespective of the last salary drawn and status or position. Any Pension should satisfy the basic needs only, since this is a burden on the State. -- Dhananjay Londhe

EPS95 Pension calculation is wrong as per eps95 rule. central Govt. should take interest on implementation of eps95 rule

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